Posted on 06/17/2007 9:13:44 AM PDT by JCG
The past week has very possibly been the key turning point in the drive to cripple the Iranian government and force it to back off its nuclear weapons program. Uncovered by the mainstream media, a courageous and far-sighted effort by Reagan’s assistant secretary of defense, Frank Gaffney, to force state pension systems to stop investing in companies that do business with Iran or Sudan has won key victories in Florida, California, and Ohio.
Spurred by vigorous lobbying by key legislators in each state, these massive pension funds are now committed to disinvest from companies that invest in Iran’s or Sudan’s energy industries.
Gov. Charlie Crist (R) of Florida signed legislation last week banning such pension-fund investments. On June 5, the California Assembly unanimously voted to require CalPERS and CalSTRS, the public employee and teacher retirement systems, to disinvest from companies that invested in Iran’s defense, nuclear or oil industries. CalPERS has about $2 billion now invested in companies that would be covered by the law. Imagine the hit that these companies’ CEOs and directors will take in their bonuses that are linked to stock prices when these shares are dumped on the market!
(Excerpt) Read more at frontpagemag.com ...
Exactly, look for President Bush to get together with Ted Kennedy to block it.
It is. Other investors who don’t care will buy the shares. There is plenty of capital in the world.
Sounds too good to be significant. It’s a gesture and a desperate attempt by the author to get something in writing by deadline.
bttt
Start working on the elites first - they are easy to corrupt.
Lots going on in Iran than we’re hearing...huge civil unrest. Executions also taking place of citizens...
You got it. This is just a liberal feel good self-esteem thing with abssolutely no practical effect whatsoever.
If they sell, others will buy. And if the whole U.S. refuses to deal with Iran, then the Euros, the Russians, and the Chinese will fill the vacuum. I think this is a small move in the right direction, but nothing more.
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